Minimum wage 2024: What did the Minister of Economy announce about the increase in Peru? | Answers

President of the Republic, In BoluarteSalary hike for nurses and obstetricians announced on November 25, 2023. For higher education teachers till December last year. The head of state indicated that around 300 million soles will be invested to achieve the announced salary increase.

“It is with great satisfaction that I announce that there will be a fourth increment for nurses and midwives. The hike will take effect in December and will benefit 140,000 workers., he said during his participation in “Let's Act Now! Let's protect women from sexual violence”

Even though the government has taken these measures in respect of civil servants, majority of people expect similar measures to be announced along with salary hike. Find out what's known about the measure, when it will be debated, what's missing for approval and more details below.

What to know about the 2024 salary increase in Peru?

The Minister of Labor and Employment Promotion, Daniel Mouret, assured that now is a good time to discuss increasing the Minimum Living Wage (RMV) as it is the commitment of President Tina Poluarte.

Mouret highlighted that this increase is a fact that affects small and micro enterprises because, unlike medium and large enterprises, small and micro enterprises pay wages, which is why its regularization needs support. Although it is true that the issue could not be discussed in 2023 because the country was in recession, Economy Minister Alex Contreras commented that the situation will be different this year.

“According to the Minister of Economy (Alex Contreras), this year we are going to get out of recession, so this would be a good time to discuss (increasing) the minimum living wage”said.

Therefore, Minister Alex Contreras conditioned the debate on the increase Minimum Vital Wage (RMV) For the development of the Peruvian economy. In addition, he pointed out that a possible increase would first have to pass a consensus within the National Labor Council.

“There must be a consensus, without growth there cannot be any changes in these variables. “What we hope is that when the economy starts to grow again, when we have strong news, through consensus, we can reach a solution.”He said in a press conference.

For Contreras, there are two factors to consider, the growth of the economy and the loss of purchasing power of salaries.. “This should be taken to the National Labor Council. In strong growth, sales improve, companies are able to meet their obligations and employment is created.he added.

The government has officially announced the salary hike for health professionals

The government has officially announced a salary hike for health professionals, which will be effective from December. Supreme Order No. 271-2023-EF. It said that it will not suspend the indefinite strike until the unions accept and publish the above rule.

“In the coming days, after the recently approved 2024 budget legislation in the Republican Congress, another executive order will be issued authorizing the payment of outstanding salary differentials to the group of health professionals”The Ministry of Health said in an official statement.

How much will the minimum wage increase in Peru?

The basic salary under Labor Wages is currently 1,025 feet, but although President Tina Polwart announced the change in salary, she did not give further details on the amount, adding that efforts will be made to reach a consensus among the parties involved. The benefit of the people of Peru.

What is the current minimum wage?

According to current statistics (2023), the minimum wage in the Peruvian labor market is 1,025 feet. This basic salary is usually reduced by an amount related to AFP (Pension Fund Administrator's Contribution), the percentage of which varies depending on the salary received. It is also important to take into account the details of your contract and employment regime to calculate your net income.

When was the last salary increase in Peru?

The last change in the salary scale occurred in May 2022 under the government of Pedro Castillo. Pursuant to the decree of the former President, the Decree N°03-2022-TR This resulted in an increase of 95 feet in the RMV (Minimum Living Wage). Hence, the scale of minimum wages has been increased from the basic 930 feet to 1,025 feet.